American Telecom Services Inc. (Amex: TES), a provider of converged communications solutions today announced financial results for the third fiscal quarter ended March 31, 2007.
The Company announced gross revenues for the third quarter of $6.9 million, down 30% sequentially versus $9.9 million in the second quarter of fiscal year 2007. Net revenues, which include certain reductions for returns, approximately $3.0 million of promotional expenses (including recognizing the expense for a revision of a prior period estimate of $1.6 million resulting from better than expected sales of our products at retail) were $3.0 million, down 60% compared to the second fiscal quarter net revenue of $7.4 million. This sequential decrease in revenues reflects the impact of the holiday selling season in the previous quarter.
